Real Estate Math: Explanations, Problems and Solutions

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Dearborn Real Estate, 1996 - Business & Economics - 141 pages
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Understanding real estate transactions is essential to passing the real estate exam and being a successful agent. Real Estate Math: Explanations, Problems, Solutions, 5th Edition, will guide you step-by-step through every type of math problem you will encounter in your new career. * Each chapter is organized in sections for easy reference and self-paced learning. * Every question and example is worked out completely, step-by-step, so you're never confused about how to solve a problem. * Basic calculator keystrokes are included with examples so you can learn how to solve problems more quickly and easily with the help of a calculator. * The pretest and two posttests include solutions and are directly referenced to the exact chapter section where the material is found. You can see immediately by the problems you miss which sections need more review so you can save study time.
 

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Contents

Review of Basics
1
11 Numbers and Digits
2
13 Rounding Numbers
4
14 Practice Problems
6
Chapter 1 Answer Key
8
Fractions Decimals Percent
9
22 Fractions
10
23 Changing Fractions
11
511 VA Loans
67
513 Mortgage Discount Points
68
Discount Points
69
515 Computing Transfer Taxes on Mortgages
71
Transfer Taxes on Mortgages
72
517 Computing Monthly Payments
73
519 Mortgage Amortization
74
520 Amortization over Extended Periods
76

24 Reducing Fractions
12
26 Adding and Subtracting Fractions
14
28 Dividing Fractions
16
29 Decimals
17
211 Multiplying Decimals
18
213 Changing a Fraction to a Decimal
20
214 Changing a Decimal to a Fraction
21
216 Changing a Percent to a Fraction or a Decimal
22
217 Changing a Fraction or a Decimal to a Percent
23
218 Percent in Problems
24
Chapter 2 Answer Key
27
Using Percent in Real Estate
29
32 Percent and Percentage
30
33 Use of the Memory Device
31
34 Five Steps in Percent Problems
35
35 Memory Device Practice Problems
36
36 Calculating Commissions
38
37 Practice Commission Problems
39
Chapter 3 Answer Key and Solutions
41
Legal Descriptions and Area Problems
42
42 Recorded Plat of Subdivision
43
44 Rectangular Survey System
46
45 Calculating Number of Acres
48
46 Converting Square Feet to Acres
49
47 Practice Problems Converting Square Feet to Acres
50
Key Terms
52
49 Formulas To Use in Area Problems
53
410 Formulas To Use in Cubic Measure Volume Problems
56
411 Cost per Unit
57
Chapter 4 Answer Key and Solutions
58
Mortgage Math
59
51 Calculating Interest
60
53 Practice Interest Problems
62
55 VA Minimum Down Payments
63
57 Calculating Conventional Loan Down Payments
64
59 FHA LoansRegular FHA 2O3b Program
65
51O Practice Problems Calculating FHA Down Payments
66
Chapter 5 Answer Key and Solutions
78
Real Estate Taxes
80
62 City and County Property Taxes
82
63 Special Assessments
83
64 Real Property Transfer Taxes
84
66 Practice Problems Calculating State Transfer Taxes
86
Chapter 6 Answer Key and Solutions
88
Appraising and Investing Calculations
89
71 Cost Approach
90
Depreciation as a Percent
91
Calculating Depreciation and Economic Life
95
75 Income Capitalization Approach
96
76 Sales Comparison Approach
100
Estimating Site Value
101
Gross Income Multiplier
102
71O Estimating Income and Expenses
104
711 Predicting Future Return Rates and Economic Ratios
105
712 Practice Problems
108
Chapter 7 Answer Key and Solutions
109
Computations and Closing Statements
111
30DayMonth Method
112
365Day Method
114
84 Prorating Property Insurance
116
85 Prorating Property Taxes
118
86 Prorating Rent
119
87 Prorating Mortgage Interest
120
88 Organizing the Information
121
Work Organizer for Closing Statements
124
Composite Closing Statement
125
Chapter 8 Answer Key and Solutions
126
Posttest
129
Posttest One Answer Key and Solutions
132
Posttest Two
134
Posttest Two Answer Key and Solutions
137
Index
139
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